EURUSD Chart Technical Outlook consolidates ahead of the PCE data
EUR/USD is consolidating ahead of today’s PCE data. Prices have been moving sideways for two weeks on softer inflation data but a hawkish Fed. Markets price almost two cuts this year but the Fed signaled one cut. Today’s data should give clues on which side to follow.
I expect more sideways going into the event. There is scope for an upside leg towards the triangle pattern resistance at 1.0730. Support is located at 1.0660.
